Question 23 Chapter 1 of +2-B – USHA Publication 12 Class

Question 23 Chapter 1 of +2-B

Question 23 Chapter 1 of +2-B

Arrangement of Balance sheet Items

23. (Balance Sheet with Notes to Accounts) Following balances have been extracted from the books of Ojas Limited on 31st March, 2018.

ParticularRs
Equity share capital (50,000 equity of Rs 10 each)5,00,000
General Reserve1,00,000
12% Debentures4,00,000
Debit balance of Statement of profit and loss50,000
Plant and machinery4,00,000
Government Bonds3,00,000
Cash at Bank1,00,000
Inventories1,00,000

 

 

The solution of Question 23 Chapter 1 of +2-B: – 

 

Balance Sheet as on 31st March 2018

Particulars
Note no.Amount
II Equity & Liabilities  
1. Shareholders’ Fund  
Share Capital15,00,000
Reserve & Surplus250,000
2. Non-Current Liabilities  
Long term Borrowing34,00,000
Total 9,50,000
II Assets  
1. Non-current Assets  
Fixed Assets  
Tangible Assets44,00,000
Non-Current Investments53,00,000
2. Current Assets  
Inventories61,50,000
Cash & Cash Equivalent 1,00,000
Total 9,50,000



Working Note

Particulars
Note no.Amount
1. Share Capital   
50,000 equity shares of Rs 10 each  5,00,000
2. Reserve and Surplus   
General Reserve1,00,000  
Dr. Balance in Statement of P&L(50,000) 50,000
3. Long term Borrowings   
12% Debentures  4,00,000
4. Tangible Assets   
Plant & Machinery  4,00,000
5. Non-Current Investments   
Government Bonds  3,00,000
6. Cash & Cash Equivalents   
Cash at Bank  1,00,000

 

To understand more about Balance Sheet please check out following links:

Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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T.S. Grewal’s Analysis of Financial Statements

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